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The Board of Directors of the African Development Bank (AfDB) Accelerated Agriculture Fund (AFT) has approved US $ 23 million in grants to support the agri-food sector, such as small and medium-sized enterprises (SMEs) in eight African countries.
The Multi-Donor Trust Fund is supported by the United States of America, Denmark and Sweden through their development agencies, the United States Agency for International Development (USAID). , the Danish International Development Agency (DANIDA) and the Swedish International Development Department (SIDA). ).
Each of the beneficiaries would receive between US $ 100,000 and US $ 1.5 million for the preparation of agricultural infrastructure projects and financing or advisory services for the agribusiness sector.
Projects are expected to be implemented within six months and also fund work upstream of project design, including feasibility studies, business plans, product and process certification, market badysis, and help them to carry out an badessment of the environmental and social impact.
The beneficiary SMEs were selected in Ghana, Burkina Faso, Ethiopia, Malawi, Mozambique, Nigeria, Senegal and Tanzania to increase food production, empower women and create jobs in Africa.
Since its inception in 2013, Aid for Trade has been administered by the AfDB Agriculture and Agribusiness Department and has approved 36 grant projects, mainly agro-based SMEs. sponsored by the private sector.
At the launch of recently approved grants, projects under the auspices of AFT in Accra on Wednesday, Mr. Yaro Baldeh, AfDB National Director, said in a speech read in his name that the ambition of The Bank Supporting the Transformation of Agriculture Africa was essential to eradicate extreme poverty by 2025.
He added that grant projects were at the heart of the Bank's Feed Africa strategy, aimed at ending hunger and malnutrition on the continent, making Africa a net exporter of food propel Africa to the top of the export-oriented global value chain.
It was therefore prudent to exploit the full potential of African agriculture and AFT played a unique and focused role in supporting the development of a strong portfolio of agricultural infrastructure projects. "Bankable," he said.
Of the 17 projects, four would be implemented in Ghana, while the remaining 13 would be deployed in seven other eligible countries. These projects were competitively selected on the basis of applications received by the AFT Technical Review Committee from October to November 2018.
Dr. Jonas Chianu, Coordinator of the Agriculture Fund, reported that a total of 1,022 registrations had been received by the Technical Review Committee of Aid for Trade and, following a rigorous technical evaluation, 17 projects had been selected for support.
He said the funds would support SMEs in the areas of poultry farming, seed cultivation, irrigation and other interventions, and he was convinced that the projects would have a positive impact on job creation, women's empowerment and the improvement of agricultural infrastructure.
Emmanuel Fordjour, head of the African Development Bank's unit at the Ministry of Finance, said AfDB support to SMEs was commendable and the Bank should be encouraged to do more to boost agricultural production. and improve food security in Africa.
One of the beneficiaries, Mr. Gebriel Galatis, National Director of the Ethiopian NGO Feed the Children, said the Bank's support would enable the Organization to undertake irrigated agriculture to promote food security , especially in southern Ethiopia. which was ravaged by the protracted war.
It would also empower women and girls to enter the agrifood business and process tomatoes locally to preserve the local economy.
Another recipient, JohnCarl Dunyo Kwame, Product Innovation and Distribution Manager for Farmline, a Ghanaian farmer, said the funding would allow them to build more warehouses to preserve cocoa beans in the regions. Western West, Brong Ahafo and Ashanti.
As part of the launch, a workshop was held for beneficiaries to familiarize themselves with all AFT operations and to provide information on the processes, procedures and tools needed for smooth and effective implementation. projects.
— GNA
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